dlbsanborn
Short

Cypher completion on AUDUSD

FX:AUDUSD   Australian Dollar / U.S. Dollar
Just had a cypher complete around 0.7274. Watching this very close. It has overextended itself a little higher which can give us a better entry point for a better RR. However if it closes above the X of the cypher it will likely press even higher as this level has been major resistance in the past. If it breaks the resistance level it could drift up to .73 range.
TP 1 would be around 0.7272
TP 2 around 0,7262

Stops would be above X, (in this case just above the D high for me). If it closes above the X portion of the Cypher I'll pass on this trade. The market is a little wishy-washy during this time of the year anyway.
Order cancelled: closed above X- passed on this trade.
AT .73. Looking for .7323 area to complete a larger Cypher pattern.
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